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Bonanza Creek Energy (NASDAQ:BCEI) was upgraded by research analysts at Brean Capital from a “hold” rating to a “buy” rating in a report released on Friday, American Banking News reports. The firm currently has a $61.00 price target on the stock. Brean Capital’s target price would indicate a potential upside of 44.34% from the company’s current price.

Bonanza Creek Energy (NASDAQ:BCEI) traded down 8.19% on Friday, hitting $42.26. The stock had a trading volume of 2,886,400 shares. Bonanza Creek Energy has a one year low of $33.20 and a one year high of $57.47. The stock has a 50-day moving average of $46.57 and a 200-day moving average of $46.12. The company has a market cap of $1.702 billion and a price-to-earnings ratio of 26.92.

Bonanza Creek Energy (NASDAQ:BCEI) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.46 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.53 by $0.07. The company had revenue of $127.40 million for the quarter, compared to the consensus estimate of $124.05 million. During the same quarter last year, the company posted $0.40 earnings per share. Bonanza Creek Energy’s revenue was up 62.7% compared to the same quarter last year. Analysts expect that Bonanza Creek Energy will post $2.81 EPS for the current fiscal year.

Other equities research analysts have also recently issued reports about the stock. Analysts at SunTrust raised their price target on shares of Bonanza Creek Energy from $62.00 to $63.00 in a research note on Tuesday, April 1st. Separately, analysts at Goldman Sachs upgraded shares of Bonanza Creek Energy to an “equal weight” rating in a research note on Friday, March 28th. They now have a $50.00 price target on the stock, up previously from $40.00. Finally, analysts at Raymond James downgraded shares of Bonanza Creek Energy from an “outperform” rating to a “market perform” rating in a research note on Monday, March 24th. Eight research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $55.77.

Bonanza Creek Energy, Inc is an oil and natural gas company engaged in the acquisition, exploration, development and production of onshore oil and associated liquids-rich natural gas in the United States.

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